- General
- November 23, 2020
- 4 minutes read
Gatik Scores $25M Round
Gatik, an autonomous driving technology startup based out of Palo Alto in California and Toronto in Canada, has announced that it’s…
Gatik, an autonomous driving technology startup based out of Palo Alto in California and Toronto in Canada, has announced that it’s raised a $25 million Series A round co-led by investment firms Wittington Ventures and Innovation Endeavors, with participation from the likes of AngelPad, Dynamo Ventures, FM Capital, and Intact Ventures.
The new Series A round is the second funding round closed by Gatik since it launched in 2017. With it, the startup has now raised a total of $29.5 million in funding. It says it’ll use its new capital to expand its operations in Silicon Valley and Canada.
Gatik is one out of many autonomous driving startups out there. The company is, however, relatively much younger than many of its peers, having been founded just three years ago.
Gatik operates a fleet of autonomous vehicles 7 days a week, 12 hours a day, on routes of up to 300 miles in several locations across North America. The company has delivery partnerships with retailers such as Walmart and says that it’s run a total of over 30,000 revenue-generating autonomous orders for multiple customers in the US and Canada.
This particular year has been good for Gatik, whereas the company says it’s seen an increase of 30-35% in orders from its customers. Gatik recently began running deliveries in a 10-26 ft Autonomous Box Trucks that’s capable of transporting refrigerated and frozen goods and products.
Founded just three years ago, Gatik has become a fairly well-known name in the autonomous vehicle industry. Although founded in 2017, the company only launched out of stealth just last year with a $4.5 million seed round and a Walmart partnership.
Photo: Gatik
